MOUNTAINVIEW — MOSSEL BAY
FIRST-TIME BUYERS: FAST-TRACK YOUR APPLICATION AND MOVE INTO YOUR OWN MOUNTAINVIEW HOME MUCH FASTER
Mossel Bay Municipality approves a rent-now, buy-later fast track — no home loan needed to move in
Rent-to-buy 2-bedroom homes in Mossel Bay: qualify for the First Home Finance (FLISP) subsidy, rent from R3 000 per month, and become the owner — through the Rent2Buy programme by MDW INC Attorneys
First-time home buyers can now fast-track occupation of their new homes in the Mountainview development in Mossel Bay.
The Mossel Bay Municipality has just approved an opportunity for a first-time buyer to secure a brand-new 2-bedroom home in Mountainview through a 2-year rental — and then apply for a home loan and, once approved, take transfer of the property.
The breakthrough is speed and simplicity: to fast-track occupation, the tenant-buyer only needs to qualify for a First Home Finance subsidy and be able to pay a rental of between R3 200 and R4 500 per month. No prior bond approval is required to move in.
Even better, the rental is calculated after the subsidy the buyer qualifies for is deducted upfront from the purchase price — a concept that opens the door for many first-time buyers to secure their own homes and can save a tenant-buyer hundreds of Rands per month compared to ordinary rental payments. The tenant-buyer also pays the standard municipal rates, taxes and utilities.
“Public Service Employees are sitting on two pots of gold — a GEHS savings and a First Home Finance subsidy. Together, they can be used as a powerful double deposit to secure your very own home.”
— Meyer de Waal, Attorney & Conveyancer, MDW INC Attorneys, Cape Town, appointed to for the marketing and sales of the Mountainview project
WHY THIS IS A GAME-CHANGER FOR FIRST-TIME BUYERS
HOW THE FAST-TRACK WORKS — 5 SIMPLE STEPS
EXTRA BONUS FOR GOVERNMENT EMPLOYEES: DOUBLE SAVINGS
Thousands of South African public servants and first-time buyers remain unaware that they are entitled to two significant financial benefits that — and van be combined — and can unlock home ownership without the need for traditional upfront home loan approval.
MDW INC Attorneys and the My Budget Fitness Team, appointed for the marketing and sales of the Mountainview project, are excited to make the dream of owning your own home a reality through an innovative Instalment Sale Agreement — a legally recognised home purchase structure in place since 1981, offered nationally as the Rent2Buy rent-to-own programme (www.irent2buy.co.za).
1. GEHS Savings — Government Employees Housing Scheme
If you are a public servant who does not currently own a home and is paying rent, a housing savings allowance is automatically accumulated on your behalf each month. Many employees have built up savings exceeding R100 000 or more — yet cannot access these funds because they cannot qualify for a traditional home loan.
2. First Home Finance (FLISP) Subsidy
The First Home Finance subsidy — formerly known as FLISP — is a government housing subsidy available to qualifying first-time buyers.
Employees earning between R3 501 and R22 000 per month may qualify for a substantial subsidy of between R30 001 and R130 505. Since 1 April 2022, this subsidy no longer requires a conventional home loan as a trigger and can now be unlocked through an Instalment Sale Agreement.
In the Mountainview project, the minimum income required is R12 000.00 per month.
THE LEGAL STRUCTURE: THE INSTALMENT SALE AGREEMENT
An Instalment Sale Agreement, regulated by the Alienation of Land Act No. 61 of 1981, allows a buyer to take occupation of a property and pay for it in monthly instalments — much like a rental arrangement — while the purchase price is settled over an agreed period (typically 24–36 months).
Critically, once the Instalment Sale Agreement is registered against the title deed at the Deeds Office, both the GEHS savings and the First Home Finance subsidy are immediately released to the seller — reducing the outstanding purchase price and lowering the buyer’s monthly instalment significantly.
This gives the buyer a 2–3 year window to settle debts, improve their credit profile, and ultimately qualify for a home loan to finalise the purchase — all while already living in their own home.
A REAL-WORLD EXAMPLE
Consider Miss A, a public servant earning R15 000 per month, with accumulated GEHS savings of R35 000, a qualifying First Home Finance subsidy of R86 000, and a credit profile that currently prevents her from securing a conventional home loan.
|
Item |
Amount |
Monthly payment |
|
Purchase Price |
R429 000 |
R4 500 pm |
|
Less: First Home Finance Subsidy |
− R86 000 |
|
|
Less: GEHS Savings |
− R35 000 |
|
|
Balance of Purchase Price |
R308 000 |
|
|
Revised Monthly rental amount |
|
R2 695 pm |
|
Monthly Saving for Miss A |
|
R1 806 pm |
Note: Revised monthly instalment reflects the interest-serving instalment on the reduced balance of R308 000, rental calculated at the current prime lending rate of 10.5%, during the 24–36 month Instalment Sale period — ahead of a conventional home loan (typically 20 years) to take transfer.
An 8–10% annual rental escalation clause applies. Provision must also be made for municipal costs including rates & taxes and services. This example is for illustration only — every applicant receives an individual affordability and eligibility assessment.
HOW TO GET STARTED — FAST-TRACK YOUR APPLICATION TODAY
View the property online: Click here to view the 2-bedroom home
Book a viewing with Vusi (resident estate agent): mountainviewmosselbay.co.za/book-a-viewing
Get qualified & more information: mountainviewmosselbay.co.za/campaigns
These links connect you directly to the MDW INC and My Budget Fitness property sales team.
Our team will assess your First Home Finance eligibility, your GEHS savings balance (if you are a public servant), and identify the most suitable property for your budget — so you can fast-track your application and move into your new home much faster. More rent-to-buy properties across South Africa: www.irent2buy.co.za.
FREQUENTLY ASKED QUESTIONS
Can I move into a Mountainview home without a pre-bond approval?
Yes. The Mossel Bay Municipality has approved a rent-now, buy-later fast track: qualify for the First Home Finance (FLISP) subsidy, pay a rental of R2 600 – R4 500 per month, and move in — no home loan approval is required to take occupation. (disclaimer – rental for each tenant buyer will differ as per the subsidy and GEHS savings (if available).
Does the FLISP / First Home Finance subsidy still require a bond?
No. Since 1 April 2022, First Home Finance (formerly FLISP) can be accessed through an Instalment Sale Agreement, not only through an approved home loan.
What income do I need to qualify for Mountainview?
A minimum household income of R12 000 per month, within the First Home Finance band of R3 501 – R22 000 per month for first-time buyers.
Can I use my GEHS savings without a home loan?
Yes. Once an Instalment Sale Agreement is registered against the property’s title deed, enrolled GEHS members can apply for their accumulated savings to be released towards the purchase price — no bond approval is required.
What is rent-to-buy (rent-to-own) in South Africa?
Rent-to-buy allows you to move into a home and pay monthly instalments while working towards full ownership. Under the Rent2Buy programme, your payments settle an agreed purchase price under the Alienation of Land Act, and ownership transfers to you once the balance is financed or paid. The final and last payment is through the proceeds of a home loan that one must qualify for.
ABOUT MOUNTAINVIEW MOSSEL BAY
Mountainview is a residential development in Mossel Bay, Western Cape, offering brand-new 2-bedroom homes to first-time buyers under the municipality-approved rent-now, buy-later fast track. Marketing and sales: MDW INC Attorneys and the My Budget Fitness Team. www.mountainviewmosselbay.co.za
ABOUT MDW INC ATTORNEYS AND RENT2BUY
MDW INC Attorneys is a Cape Town law firm founded in 1989 by Meyer de Waal, specialising in property law, conveyancing and affordable housing finance innovation.
MDW INC pioneered the Rent2Buy rent-to-own home ownership model in South Africa (www.irent2buy.co.za). My Budget Fitness prepares buyers to become bond-ready through budget coaching, credit rehabilitation and affordability assessment — from where you are to bond-ready.
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CONTACT On-site Agent — Vusi (Vuyisile Gxelesha) — Vuyisile@mdwinc.co.za Website: www.mountainviewmosselbay.co.za MDW INC Attorneys, Cape Town — https://mdwinc.co.za/services/ Meyer de Waal | Attorney & Director — meyer@mdwinc.co.za More rent-to-buy properties: irent2buy.co.za | flisp.co.za |
